Orthopedic devices maker Orthofix (NSDQ:OFIX) settled a years-long investigation into allegations of bribery stemming from a former Mexican distributor, paying a total of more than $7.4 million in disgorged profits and fines.
Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else this weekend, make sure you’re still in the know with MassDevice +7.
The office of the U.S. Attorney for the District of Massachusetts and the DoJ abandoned their civil and criminal probe into allegations of off-label marketing and concealed safety risks without finding evidence of wrongdoing, according to a press release.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Biomet Inc. settled a case of illegal overseas kickback for more than $22 million in fines and penalties, making it the latest in a string of device makers hit with heavy fines for alleged violations of the Foreign Corrupt Practices Act.
The Warsaw, Ind.-based orthopedic and sports device maker will pay nearly $17.3 million to resolve charged brought by the U.S. Justice Dept., plus a "consent agreement" to settle civil claims with the SEC for another $5.6 million.
MASSDEVICE ON CALL — Conservative activist Grover Norquist counted the medical device tax as one of President Barack Obama’s top measures that will most hurt seniors.
The top-line 2.3% levy, set to take effect January 1, 2013, made the list over concerns that the burden of the tax will be reflected in higher costs for medical products that seniors rely on.
Boston Scientific (NYSE:BSX) can’t dodge a false claims lawsuit filed against its Guidant pacemaker division after a federal judge shot down its move to have the case dismissed.
James Allen sued Guidant and Boston Scientific in July 2008 under the False Claims Act, alleging that the company knew of problems with its Ventak Prizm device but failed to disclose them.